The Canadian Dollar climbed up against its U.S. namesake to the four week high after the news on the Burger King and Tim Hortons multi billion dollar deal came out. The major deal, backed by the world's famous investor Warren Buffet, boosted demand for the Loonie, helping it to gain 0.72% to end at C$1.0870. Additionally, investors are anticipating Canadian
The Australian Dollar climbed to a three-week high as capital expenditure showed an improving outlook for the economy by increasing 1.1% last quarter. With the Aussie rising 0.2% against the US Dollar and the pair trading at 93.57 overall for the month the AUD/USD pair has gained 0.6%. Meanwhile, the Euro also gained against the US Dollar and was trading at 1.3210.
The Japanese Yen gained against the Greenback, rebounding from the seven-month low after the Dollar bulls backed off. Experts forecast positive numbers on soon-to-be released Consumer Price Index, predicting Japanese industrial production to climb 1%, following a sharp decline of 3.4% a period before. Revised inflation numbers predict contraction to 3.4% on a year-to-year basis, from 3.6% expected before. The
The British Pound inched up against the U.S. counterpart after hitting five-month low as traders move attention to the upcoming U.S growth data and U.K interest rate speculations. The Sterling experienced additional pressure after approved mortgage lending number fell in July. Nonetheless, traders keep focus on a possible interest rate hike by Bank of England till the end of the
The New Zealand Dollar gained against the Greenback after reaching six-month low caused, as experts explain, by Reserve Bank of New Zealand intervention. Experts predicted even further RBNZ attempts to decrease high value of the Kiwi, as a way to fuel the export demand in the light of declining fundamentals and negate the negative effect of declining dairy prices (40%
The Canadian Dollar has nudged against the U.S Dollar ahead of the anticipated numbers on Gross Domestic Product estimates for both nations. Although the Greenback benefited from increased demand earlier last week, mainly caused by better then expected job numbers and improvements in U.S equity markets, experts revised GDP expectations with a 0.1% drop to 3.9%. Additionally, the Canadian GDP
The Australian Dollar surged against the Greenback after numbers on durable goods orders were released earlier this week. The earlier numbers reported an increase of 22.6% in durable goods, or 0.8% drop in case aircraft orders excluded. Additionally, experts explain the phenomena by increased numbers of investors willing to diversify after the safe haven Yen reached six month low. Nonetheless,
The biggest European banks are putting trillion dollar worth bad assets for sale, as tougher capital requirement rules limit banks from issuing new loans. According to experts, toxic assets such as loans and under-performing operations climbed by 65% surpassing the $1.7 trillion mark. Furthermore, banks have already sold loans backed up by property for over $50 billion in the six
The Canadian Dollar gained against the Greenback after trading at four month low, reached following a hawkish Janet Yellen's speech at Jackson Hole Symposium and disappointing commodity price numbers including decline in crude oil and gold prices, which gave additional boost to the U.S Dollar. The Loonie is having a rather light week with no major news scheduled until Friday, when
The British Pound continues to stay at the five month low against the Greenback after the speech of the Fed Chair Janet Yellen at the Jackson Hole Symposium and the disappointing number of approved housing mortgages numbers in the U.K. The approved mortgages declined to 47,297 missing the economists' expectations by a wide margin. Nonetheless, the approvals gained 12% in
U.S services sector expansion rate is slowing down, as the Purchasing Managers Index fell down to 58.5 in August, its lowest point since May. Although services sector is experiencing substantial growth rate, experts suggest that it might have lost the momentum after reaching pre-crisis level in July. Nonetheless, experts remain positive and forecast PMI to inch up to a 59.5
The U.S new-home housing market is experiencing unexpected decline in the month of July against experts' forecasts, contracting by 2.4% to 412,000 units. Although the costs of borrowing remain at historically low levels, potential buyers were winded up by tight credits and slow wage growth, experts explain. Furthermore, sales of previously owned accommodations have inched up fourth month in the
The British Pound has been climbing high since last year, gaining overall 13.64% against the Greenback. The significant increase was stimulated by economic growth well ahead of the expectations, poor macroeconomic data from the U.S side and a hawkish tone of the Bank of England. Although few U.K manufacturers report decline in export numbers, experts explain the phenomenon by sluggish
The Japanese Yen nudged higher against the Greenback after overriding seven-day continuous slip. The Yen gained against all but one major trading peers, as investors seek haven currency in the light of the upcoming Russian president Vladimir Putin and Ukraine president Petro Poroshenko meeting. Additionally, the latest negative Euro zone and New Zealand numbers supported demand for the Japan's currency. The
The Euro zone's currency is down to the 11-month low after the Janet Yellen and Mario Draghi speech at the Jackson Hole Symposium last Friday. As Janet Yellen provided some ground for speculation regarding possible future U.S interest rate hike and Mario Draghi expressed concerns over slow inflation, the Euro-bulls left the shared currency at a $1.32 level. Experts are
The Canadian Dollar started this week with a gap-down against the Greenback, after Fed Chair Janet Yellen's positive words concerning U.S economic recovery provided grounds for Dollar bulls. The Loonie has hard-data week schedule ahead with second quarter GDP data report this week. Experts forecast an annual increase in Canada's GDP by 2.6%, as well as economics expansion by 0.2%
The Australian Dollar inched up this week towards 3-week peak after it reached a 2-month low against the Greenback, as the economic calendar for the Aussie this week is rather light. The Aussie started this week with a small slide in Asia, after the Fed Chair Janet Yellen discussed the prospects of the U.S. recovery. Nonetheless, a lack of major
The British Pound has been experiencing a continuous 7-week-long slip against the Greenback, as uncertainty over Bank of England plan to hike interest rate in the near future pressures the Sterling. Furthermore, the July's muted inflation report puts more weight onto the currency. Nonetheless, the Credit Agricole experts remain bullish regarding the Pound's future. The experts predict the BoE to
The U.S Dollar advanced to 11-month high against the shared currency after Fed speech at the Jackson Hole Symposium provided grounds for speculations over higher future interest rate. Additionally, Mario Draghi announced the Eurozone inflation data to lag expectations. The Fed shed some light on the growing housing market, as home sales climbed by 5.7% last period, following a sharp
After the anticipated Jackson Hole Symposium over this weekend, the Fed Chairman Janet Yellen announced a possible federal fund rate increase before the previously established schedule. As a result, the Yen slipped against the Greenback and the pair is now trading at ¥104.24. The weak Yen had a positive effect on the Japanese stock market, pushing Nikkei 225 index up by
The Australian Dollar rebounded after it hit three-month low over negative Chinese manufacturing number, as currency traders move away from the U.S Dollar to its major peers. Experts estimate that the Fed governor's speech at Jackson Hole can potentially fuel the demand of Oz currency. However, some experts predict different a scenario for the Aussie in case Fed leans towards
The Cable has reached its 4.5-month low against the Greenback, after the Federal Reserve reported positive growth numbers. The Sterling stopped its continuous slip after several members of Bank of England voted for an increase in the benchmark rate. Experts forecast retail growth rate to be at 0.4%, following a decline of 0.1% in period before. Total sales are expected
Germany's industrial and services sector eased this month less than previously expected. With the manufacturing PMI readings gradually falling from January the data from August came out at 52.0 down from 52.4 in the previous month. In addition, the services PMI was at 54.1 after it had reached a 37-month high of 56.5 in July.
Latest report released by the Federal Statistical Office showed Alpine country's trade balance outperformed expert projections, widening to ₣3.98 billion in July, instead of ₣1.85 billion expected. Additionally, the FSO reported constant monthly growth by 0.2% in real export sector. In a broader picture, real exports rose to 4.5% ₣19.258 on a year-to-year basis. Real imports plummeted by 10.2%, following a record